SMCI reports $21.97B in FY2025 revenue, up 47%, driven by $13B in NVIDIA Blackwell Ultra orders.
Super Micro Computer (NASDAQ:SMCI) posted $21.97B in FY2025 revenue, a 47% year-over-year increase, fueled by demand for its liquid-cooled server racks powering NVIDIA GPUs. The company secured over $13B in orders for Blackwell Ultra systems, positioning it as a key AI infrastructure provider.
Despite governance challenges, including a Hindenburg short report, auditor resignation, and Nasdaq delisting threat, SMCI rebounded after filing delayed reports and hiring BDO. The stock, added to the S&P 500 in March 2024, surged from $1,000 to $17,070 over a decade, though $8.8B in debt and thin margins remain risks.
SMCI’s shift from a niche server maker to a datacenter infrastructure leader was accelerated by the generative AI boom, with its Datacenter Building Block Solutions platform now central to its strategy.